UAE Banking Assets Grow to $1.5 Trillion in July on Credit, Deposit Gains
Lending and deposits both increased in July, lifting UAE bank assets to roughly $1.5 trillion, central bank data show.
Tariq Benali Tariq Benali covers business and corporate news across the UAE and MENA for Anecdoted, tracking the deals, leadership moves and regulatory shifts behind the region's companies. tariq@anecdoted.com
Banking assets in the UAE grew by 1.3% month on month to roughly $1.5 trillion (AED 5.7 trillion) in July, according to the central bank's latest monetary and banking statistics. The data, issued Wednesday, run through the end of July 2026. Gross credit moved higher and the deposit base expanded over the month, supporting the increase in total assets.
The monetary base rose 1.2% during July to $215.9 billion (AED 792.7 billion). Reserve balances held by banks with the central bank climbed 4.7% to $70 billion (AED 256.9 billion).
Gross credit advanced by $11.2 billion (AED 41.2 billion), a 1.5% increase that brought outstanding credit to $762.1 billion (AED 2.8 trillion). Domestic credit grew 1.4% to $600.7 billion (AED 2.2 trillion), while foreign credit was up 1.8% at $161.4 billion (AED 592.9 billion). Domestic lending added 1.1 percentage points to the monthly credit expansion. Foreign lending contributed 0.4 points.
The rise in domestic credit was led by the private sector. Credit to individuals increased 2.3%, or $3.8 billion (AED 13.9 billion), adding 0.6 percentage point. Corporate credit expanded 1.1%, or $3 billion (AED 10.9 billion), for a 0.5 percentage point contribution. Government lending also grew, rising 1.7%, or $1.1 billion (AED 4.2 billion), which contributed 0.2 percentage point.
Deposits rose as well. Total deposits reached $955.7 billion (AED 3.5 trillion) at the end of July, up 1.1% from $945.6 billion (AED 3,472.8 billion) at the end of June. Resident deposits increased 0.5% to $870.9 billion (AED 3.2 trillion). Non-resident deposits jumped 6.8% to $84.8 billion (AED 311.4 billion).
Private-sector deposits were the main source of resident deposit growth, rising 0.7% to $638.4 billion (AED 2.3 trillion). Deposits from government-related entities increased 3.7% to $94.6 billion (AED 347.3 billion). Other financial corporations held $16.7 billion (AED 61.3 billion) in deposits. Government sector deposits stood at $121.3 billion (AED 445.4 billion) at the end of July.
